The volume expansion of corroded steel reinforcement produces tensile stress on the surrounding concrete, which causes splitting cracking of concrete cover, and deteriorates the service ability and durability of reinforced concrete(RC) members. In addition, since the steel corrosion induces bond strength degradation between steel bar and concrete, the structural performance of RC members can be deteriorated significantly. In this study, the theoretical study was performed to probe the mechanism of the bond strength reduction due to steel corrosion. The bond strength between corroded steel bar and concrete was calculated by mathematically formulating the expansion pressure of corroded steel reinforcement. The proposed model was verified by comparing with the existing test results, and it showed that the proposed model estimate the bond strength reduction of corroded RC elements very closely.